nixon. "washington journal" continues. host: bob schoshinski is joining us of the ftc. credit ratings agency -- credit rating agencies, the first of their kind -- what is that? guest: this is a report by that imposed certain responsibilities for certain credit reporting agencies. for instance, the credit reporting act requires credit reporting agencies to have procedures to ensure maximum possible accuracy of the information the report. it gives consumers the right to check their credit report and point out any inaccuracies that are in them and dispute them with the credit reporting agencies. it requires the agency's to investigate those disputes. in 2003 when congress amended the act, they said to the ftc, who is one of the agencies that enforces the act, we would like to see a report on the accuracy of credit reports. over the course of 10 years, the commission has engaged in this study to look at credit reports and determine the accuracy. it is unique because it follows the process all th